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lianhua supermarket hldgs -h (980) Details

Lianhua Supermarket Holdings Co., Ltd., together with its subsidiaries, operates hypermarkets, supermarkets, and convenience stores primarily in the eastern region of the People's Republic of China. The company operates its stores under the Century Mart, Lianhua Supermarket, Lianhua Quik, and Hualian Supermarket brands. It also sells merchandise to wholesalers; and provides logistic services for wholesale business, as well as franchises its stores. In addition, the company sells its products through Internet. As of December 31, 2013, it operated a total of 4,530 outlets spanning 19 provinces and municipalities. The company was founded in 1991 and is based in Shanghai, the People’s Republic of China. Lianhua Supermarket Holdings Co., Ltd. is a subsidiary of Shanghai Friendship Group Incorporated Company.

lianhua supermarket hldgs -h (980) Key Developments

Lianhua Supermarket Holdings Co. Ltd. provided earnings guidance for the year ended December 31, 2014. For the period, the company's net profit is expected to significantly decrease by 30% to 50% as compared to that of the year ended 31 December 2013. Such decrease in net profit is mainly attributable to the fierce competition in the retail industry in which the Group operates and the rigid increase in costs, labour costs in particular and expenses.

Lianhua Supermarket Holdings Co. Ltd. announced that at the class meeting of holders of H shares held on December 5, 2014, the company approved amendments to Article 1 and Article 21 of the articles of association of the Company in relation to the change of names of Shanghai Friendship Group Incorporated company and Shanghai Bailian Group investment Co. Ltd. and approved the amendments to Article 21 and Article 25 of the articles of association of the Company in relation to the allotment of new domestic shares resulting from the Acquisition.

Lianhua Supermarket Holdings Co. Ltd., Special/Extraordinary Shareholders Meeting, Dec 05, 2014., at 09:30 China Standard Time. Location: Conference Room, 13th Floor. Agenda: To approve the acquisition agreement in respect of the acquisition of the entire equity interest of Yiwu City Life Supermarket Co., Ltd.; to approve the amendments to Article 1 and Article 21 of the articles of association of the company; and to approve the amendments to Article 21 and Article 25 of the articles of association of the Company in relation to the allotment of new domestic shares resulting from the Acquisition.

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